Just a day after U.S. Sen. Bob Casey, D-Pa., gathered with students in Philadelphia to urge Congress to take action on the looming doubling of some student loan interest rates, local Congressman Charlie Dent said he’s co-signed a bipartisan letter urging Senate leaders to take action.

“The Senate has to move,” Dent, a Republican from Allentown, said Tuesday. “We need to get the Senate moving and settle the differences between what the House has proposed.”

He’s referring to a bill House Republicans passed in May called the Smarter Solutions for Students Act that would tie all new loans to market-based interest rates, similar to a plan President Barack Obama proposed in April.

The bill passed the House mostly along party lines with a 221-198 passage, and it likely wouldn’t pass the Democratic-run Senate. Obama also threatened a veto on the measure.

The Act does prevent a doubling in federally subsidized Stafford loan interest rates from 3.4 percent to 6.8 percent – what’s set to occur July 1 if no action is taken -- but fails to keep the rate down for good. If it’s tied to the market, the rate would reach about 4.4 percent by next year, Dent said, adding that a cap was set in place at 8.5 percent.

So Dent, along with at least four other representatives, two of them Democrats, are sending a letter to Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell urging the Senate to pass legislation that would keep the interest rates from doubling.

“It’s easy to criticize the House,” said Dent, who represents the 15th Congressional District, which includes portions of Dauphin, Lebanon and Berks counties. “But the Senate hasn’t done anything. Let’s pass it, get it into committee and reconcile the differences.”

Dent had some harsh words last week for GOP leadership after it voted to advance an abortion bill, telling a D.C.-based publication that “the stupidity is simply staggering.” He said the nation is concerned with jobs and the economy – it wasn’t the time to debate abortion.

So then, is it the time to debate student loan interest rates? Dent says "yes" to that.

The Congressman said Tuesday that student loan debt is tied to the economy and is therefore "a pocketbook issue" – it should be high on the priority list of lawmakers.

Whether or not student loan interest rate changes are important to most lawmakers remains to be seen. Sen. Pat Toomey, R-Pa., figuratively shrugged off the issue, saying the assembly should be focused on the economy and the rising cost of education in general.

Here's the full text of the letter Dent co-signed Tuesday:

Dear Majority Leader Reid and Minority Leader Mitch McConnell:

We write to you today regarding the looming student loan interest rate cliff, now less than two weeks away, which will affect millions of students across the country if the Senate does not act. Current and future students should not be subjected to partisan debate and uncertainty on their student loan interest rates year after year. Now is the time to act to ensure that every student has a fair shot at an affordable, world-class higher education. Let’s send a strong signal to our constituents that we care.

With student loan debt in the United States surpassing one trillion dollars, now is the time to enact common sense, long-term reforms. These are the students on which our country will rely to jumpstart the economy in the coming years. Congress should be acting to ensure that students are not crushed with unsustainable levels of debt after graduation, not playing politics with our students’ education.

As you know, the House has passed a bill to prevent the interest rate for subsidized Stafford Loans from doubling to 6.8 percent on July 1st. While the House may not have unanimously approved the legislation, the Senate has failed to pass any bill – including a similar long-term proposal as well as an extension of the 3.4 percent rate. We ask that you pass legislation immediately so that we can work together to resolve any differences between the chambers and prevent the interest rate from doubling for our neediest borrowers. If we all agree student loan rates should not go up, let’s show students we care by passing legislation before the end of the month.

We believe there is a path for the House and Senate to approve a bipartisan long-term solution and stand ready to work with you on this important issue in the coming days.

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